Multifamily Asset At 38441 5th Street West Sold For $71 Million With NorthMarq Brokers
SOLD
$71,000,000
California
See Similar DealsMultiFamily213,664 SF
Sold 02/28/2025
SOLD
Multifamily Asset At 38441 5th Street West Sold For $71 Million With NorthMarq Brokers
38441 5th Street West
See Similar DealsMultiFamily213,664 SF
Sold 02/28/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$332
Total Square Footage:213,664 SF
Transaction Type:Sale
The property asset involved in the transaction is a multifamily building located at 38441 5th Street West in the Palmdale market. The sale price was $71,000,000 for a total square footage of 213,664, resulting in a price per square foot of $332.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $71,000,000
- Address: 38441 5th Street West
- Market: Palmdale
- Square Footage: 213,664
- Price Per Square Foot: $332
Steven Goldstein, Jeff Benson, and Sam Neumark from NorthMarq represented the parties in this transaction, facilitating the sale of the property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,786,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$252,248.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$336,576.22
Annual Debt Service$4,038,914.67
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